State budget executed with deficit of AZN 471M in first half of 2017

State budget executed with deficit of AZN 471M in first half of 2017
# 14 July 2017 16:34 (UTC +04:00)

According to the ministry, forecast on the revenues to the state budget was fulfilled by 102.3% and AZN 7,722,800,000 was transferred, up 25.9% or AZN 1,589,000,000 from previous year.

Ministry of Taxes fulfilled the forecast by 102.5% transferring AZN 3,353,000,000, up 5.1% or AZN 162.9 million in comparison to a year earlier.

Of this, 71.7% or AZN 2,404,400,000 was transferred from non-oil sector.

During the reporting period, the State Customs Committee transferred AZN 1,169,200,000 to the state budget, up 17.5% or AZN 173.8 million by contrast to the first half of 2016.

SOFAZ’s transfers declined AZN 59.0 million to AZN 2,991,000,000.

Transfers from paid services of the budget-funded organizations made up AZN 151.0 million, up 18.6% or AZN 23.7 million from a year ago.

AZN 58.6 million was transferred to the state budget from other sources.

In April-June 2017, AZN 4,131,100,000 was transferred to the state budget, 68.3% or AZN 1,675,800,000 over against previous year.

The forecast on expenditures was fulfilled by 100.2%. The expenditures made up AZN 8,193,900,000, up 20.1% or AZN 1,372,400,000 compared to a year earlier.

According to the economic classification, 42.7% or AZN 3,499,900,000 of the expenditures were directed to social sphere, up AZN 541.4 million or 18.3% in comparison to the same period in 2016.

In the six months of 2017, AZN 397.8 million went to construction and reconstruction of scientific, educational, health, social culture, sport and other socio-cultural and household facilities, AZN 1,180,800,000 to construction and reconstruction of energy, water and gas supply, transport, utility, melioration infrastructures, as well as AZN 41.5 million went to funding of projects in Nakhchivan Autonomous Republic.

In April-June 2017, budget expenditures amounted to AZN 4,281,200,000, up 2.0% or AZN 83.1 million in comparison with a year ago.

Budget deficit stood at AZN 471.1 million, which has mainly been covered by receipts from the remains of funds in the single treasury account and privatization as of January 1, 2017.

Revenues of consolidated budget during the reporting period made up AZN 11,606,100,000, expenditures AZN 11,507,100,000. Surplus stood at AZN 99.0 million.

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